Rapid prototyping market shows resilience
By Design Engineering staffGeneral prototyping rapid manufacturing
Despite economic downturn, 3D Printing will grow to a $782.6-million market by 2013.
According to a new market study by NextGen Research, the global market for rapid prototyping systems, services and materials will dip before bucking the economic downturn to grow at a CAGR of nearly 5% and reach $782.6 million by 2013.
The study’s author, research analyst Christopher Montaño, observes that “While it initially was used mainly for product prototyping, 3D Printing is starting to penetrate markets that can take advantage of the capability for highly customized, short-run manufacturing, including industrial products firms, and medical and dental implant and device vendors.”
Mr. Montaño says the market currently is an oligopoly, with just five market leaders. In the near term, he says, “Increasing concentration of the industry’s revenue base in a relatively small group of market leaders, coupled with a decreasing absolute market size, will dial up competition as firms increasingly battle to maintain their relative market shares.” The result, he says, “will be a reshaping of the industry landscape, as weaker competitors seek exit through acquisition.”